The cryptocurrency market appears to be regaining some steam. Bitcoin (BTC) has reclaimed the $105,000 mark after falling beneath $102,000 earlier this week. The worldwide crypto market cap has risen 1.5% within the final 24 hours to $3.77 trillion. Solana (SOL) follows the present market resurgence. The asset is inching nearer to the $260 mark.
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Solana Positive factors Traction
SOL is engulfed in inexperienced immediately. The favored cryptocurrency has rallied 4.3% within the final 24 hours, 22.2% within the weekly charts, 37.6% within the 14-day charts, and 30.7% over the earlier month. The asset has additionally risen by 211% since January 2024.
SOL is at present down by solely 11.6% from its all-time excessive of $293.31. The asset peaked on Jan. 19, 2025.
The Cryptocurrency Market’s Newest Push
The crypto market picked up steam yesterday after a short correction earlier this week. Solana (SOL) and different crypto belongings have made important beneficial properties since yesterday.
The most recent surge is probably going resulting from US President Donald Trump signing an government order to determine a digital asset stockpile. In line with the assertion, “The digital asset business performs an important position in innovation and financial improvement in america, in addition to our Nation’s worldwide management”
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Can SOL Hit $300 By The Finish Of January?
In line with CoinCodex, SOL’s worth will consolidate for the following week. The platform anticipates the asset to commerce at $261.33 on Jan. 31, 2025. Hitting $261.33 from present worth ranges will entail a rally of about 0.53%.
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SOL may hit a brand new all-time excessive of $300 by the top of this month. The most recent government order may result in a surge in investor sentiment. An increase in sentiment may set off a rally to a brand new peak.
